SAP profit up 10 percent in second quarter

AP News
Posted: Jul 18, 2013 1:19 AM

FRANKFURT, Germany (AP) — Business software maker SAP AG says net profit grew 10 percent in the second quarter to 724 million euros ($948 million) despite the economic slowdown in Asia.

Walldorf-based SAP says cost discipline helped it overcome a 7 percent slide in sales in Asia.

The company also said Thursday its business in off-site cloud computing grew strongly.

It said slowing growth in China was deterring businesses in the region from investing in new software and computing services.

The company stayed with its profit forecast but lowered its traditional software sales outlook for the year to 10 percent growth instead of 11 to 13 percent.